Tin price closes unchanged

The tin price on the Kuala Lumpur Tin Market (KLTM) closed unchanged at yesterday's US$23,650 a tonne, dealers said.

The metal price on the London Metal Exchange (LME)however, fell by US$75 to US$23,725 a tonne.

A dealer said the KLTM price remained unchanged due to a correction on the LME.

"It was a quiet market today with scattered buying, dominated by
Europeans, Japanese and local traders," he added.

At the opening bell, offers outnumbered bids by 46 tonnes to 41 tonnes.

Turnover was at 41 tonnes from Monday's 34 tonnes and the premium between the KLTM and the LME widened to US$355 a tonne from US$280 a tonne previously.-- Bernama